Hedge Fund Founder Fatally Shot in NYC Apartment; Son Questioned

The founder of a hedge fund was fatally shot in his apartment Sunday on Manhattan's East Side, police said.

Thomas Gilbert Sr., the founder and managing member of Wainscott Capital Partners was shot in the head, police told ABC station WABC-TV in New York.

Police later took Gilbert's son, Tommy Gilbert, 30, into custody for questioning, NYPD Lt. Thomas Antonetti said. Tommy Gilbert was taken from his Manhattan apartment and is considered a person of interest in the shooting, Antonetti said. He has not been arrested.

Thomas Gilbert Sr. is a graduate of Princeton and Harvard Business School who has "spent 40 years on Wall Street with direct investing experience in the stock market, as well as private equity, real estate, and the fixed income market," according to the biography on the company web site.

He formed Wainscott Capital Partners in 2011. The fund focuses on the biotech and health care industries.

ABCNews.com initially reported that Wainscott Capital Partners had $200 million in assets under management. The value of the privately held fund is not immediately known.